For the year ending 2025-12-31, HUM had $1,979M increase in cash & cash equivalents over the period. $375M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 1,203 | 1,214 | 2,484 | 2,802 |
| Loss on sale of business | -67 | 0 | 0 | 237 |
| Loss (gain) on investment securities, net | -50 | 24 | -54 | -205 |
| Gain on kindred at home equity method investment | - | - | 0 | 0 |
| Equity in net losses | -102 | -94 | -63 | -4 |
| Stock-based compensation | 241 | 207 | 175 | 216 |
| Depreciation | 773 | 908 | 850 | 749 |
| Amortization | 51 | 60 | 67 | 96 |
| Impairment of property and equipment | 28 | 237 | 206 | 248 |
| Impairment of indefinite-lived intangible assets | 128 | 200 | 55 | - |
| (benefit) provision for deferred income taxes | - | - | - | -100 |
| Deferred income taxes | 75 | -192 | -167 | - |
| Receivables | 570 | 669 | 337 | 54 |
| Other assets | 2,173 | -1,003 | 1,318 | 463 |
| Benefits payable | -472 | 199 | 915 | 975 |
| Other liabilities | 1,322 | -373 | 841 | 44 |
| Unearned revenues | 96 | -6 | -20 | 32 |
| Other, net | 0 | 108 | 113 | 70 |
| Net cash provided by operating activities | 921 | 2,966 | 3,981 | 4,587 |
| Proceeds from sale of business, net | 115 | 0 | 0 | 2,701 |
| Cash paid for acquired businesses, net of cash acquired | 81 | 89 | 233 | 337 |
| Purchases of property and equipment | 546 | 575 | 1,004 | 1,120 |
| Proceeds from sale of property and equipment | 23 | 7 | 210 | - |
| Changes in securities lending collateral receivable | 220 | 418 | - | - |
| Purchases of investment securities | 6,440 | 8,185 | 7,552 | 6,049 |
| Proceeds from maturities of investment securities | 2,912 | 2,982 | 1,292 | 1,365 |
| Proceeds from sales of investment securities | 6,510 | 3,376 | 3,795 | 2,434 |
| Other | 0 | 50 | - | - |
| Net cash provided by (used in) investing activities | 2,273 | -2,952 | -3,492 | -1,006 |
| (payments) receipts from contract deposits, net | 1,076 | 1,933 | -828 | -1,993 |
| Proceeds from issuance of senior notes, net | 1,481 | 2,232 | 2,544 | 1,982 |
| Repayment of senior notes | 948 | 1,107 | 1,832 | 1,000 |
| (repayments) proceeds from issuance of commercial paper, net | -5 | -907 | 211 | -376 |
| Proceeds from short-term borrowings | 0 | 0 | 100 | - |
| Repayment of short-term borrowings | 0 | 0 | 100 | - |
| Proceeds from term loan | - | - | 0 | 0 |
| Repayment of term loan | 0 | 0 | 500 | 2,000 |
| Debt issue costs | 5 | 7 | 7 | 6 |
| Common stock repurchases | 151 | 817 | 1,573 | 2,096 |
| Dividends paid | 430 | 431 | 431 | 392 |
| Changes in securities lending payable | 220 | 418 | - | - |
| Changes in rebate factor payable | -123 | 123 | - | - |
| Change in book overdraft | -97 | 50 | 55 | -28 |
| Other, net | -81 | -108 | -151 | 9 |
| Net cash used in financing activities | -1,215 | -2,487 | -856 | -1,914 |
| Increase (decrease) in cash and cash equivalents | 1,979 | -2,473 | -367 | 1,667 |
| Cash and cash equivalents at beginning of period | 2,221 | 4,694 | 5,061 | 3,394 |
| Cash and cash equivalents at end of period | 4,200 | 2,221 | 4,694 | 5,061 |
HUMANA INC (HUM)
HUMANA INC (HUM)